The social media and influencer landscape is ultra-competitive and eventful. Just think about the controversy around Twitter under Elon Musk's control to see just how crazy it can get!
But the social arena is the place for brands to make their mark and engage their customer base. With so many social media networks to choose from for your marketing activities, it can be difficult to keep up with what's new and what opportunities are out there for driving brand awareness.
- Social media goes back to its 'roots'.
- Social networks are beginning to decentralize.
- A new era of influencers.
- The emergence of a 'super app'.
- Vertical and long-form video is on the rise.
1. Social media goes back to its roots.
Marketers use social media channels for many purposes. It could be to get in front of a new audience, retarget previous customers or try out new creative content. But in 2023, digital transformation expert Neal Schaffer believes social media will go back to its roots.
2. Social networks are beginning to decentralize.
Many users are looking for a new type of social media platform - one built by the masses and owned by everyone (as opposed to a billionaire). This desire has seen the emergence of new platforms such as Mastodon.
3. A new era of influencers.
Influencer marketing has been hailed as a trend for years but in 2023 the concept of the word 'influencer' is changing. It's not just about the mega influencers with millions of followers, it's about influencers with dedicated followers and niche knowledge that can create great user-generated content.
4. The emergence of a 'super app'.
With the demise of cookies and focus on first-party data, companies like Apple and Google are looking for other ways to access customer data to drive personalization. It's the social media network that moves first that will grab the market to provide an 'everything app' that follows people on their customer journey.
5. Vertical and long-form video is on the rise.
As marketers, we know the power and influence of video marketing. The format provides an effective way to provide information, entertain and engage.
In 2023 the video landscape is becoming more complex as different formats become more popular. "All of the social platforms now are prioritizing video content, and their algorithms, including platforms that may be traditionally text-based like LinkedIn," says Battisby.